The sale of immovable property refers to the transfer of ownership of real estate, such as land, buildings, or any other permanent structures, from one person to another in exchange for a consideration, usually in the form of money. In India, the sale of immovable property is regulated by the Indian Contract Act, 1872, and the Transfer of Property Act, 1882, which lays down the laws governing the sale of property in India.

The Indian Contract Act, 1872 defines a contract as an agreement between two or more parties, which is enforceable by law. The act lays down the essentials of a valid contract, which include free consent, a lawful object, and consideration. In the case of the sale of immovable property, the agreement between the seller and the buyer must be in writing, signed by both parties, and registered with the relevant authorities.

The Transfer of Property Act, 1882, lays down the rules for the transfer of property in India. According to this act, the transfer of ownership of immovable property can only be made by a registered instrument, signed by the transferor and attested by at least two witnesses. The act also lays down the rules for the transfer of property through inheritance and by gift.

In India, the sale of immovable property is a complex process, involving several steps and regulations. The first step in the process is to determine the market value of the property, which is usually done by a registered valuer. Once the value of the property has been determined, the buyer and the seller enter into an agreement, which must be in writing and registered with the relevant authorities.

After the agreement has been signed, the buyer and the seller are required to pay the applicable stamp duty and registration fees. The stamp duty is a tax imposed by the government on the transfer of property and is calculated as a percentage of the value of the property. The registration fee is a fee charged by the government for registering the transfer of ownership of the property.

Once the stamp duty and registration fees have been paid, the agreement is registered with the relevant authorities. The registration of the agreement is an important step, as it confirms the transfer of ownership of the property from the seller to the buyer. The registered agreement is considered to be the proof of ownership and can be used in case of any disputes or legal proceedings.

Once the agreement has been registered, the buyer is required to pay the balance amount to the seller. The payment is usually made by cheque or through a bank transfer. After the payment has been made, the seller is required to hand over the original documents related to the property to the buyer.

The sale of immovable property in India is subject to several laws and regulations, which must be followed to ensure that the sale is legal and valid. In addition, the sale of property is also subject to several taxes and fees, which must be paid by the buyer and the seller.

One of the major taxes imposed on the sale of immovable property in India is the capital gains tax. This tax is imposed on the profit earned by the seller on the sale of the property. The capital gains tax is calculated as a percentage of the profit earned and must be paid by the seller within a specified period.

Another important tax imposed on the sale of property in India is the service tax. This tax is imposed on the services provided by the seller in connection with the sale of the property. The service tax is calculated as a percentage of the value of the services provided and must be paid by the seller.

There have been several landmark judgements on the sale of immovable property in India, some of which are:

1. Dhulabhai v. State of Madhya Pradesh (1968): This case dealt with the question of whether a sale of immovable property could be executed by a person who was not the owner of the property. The Supreme Court held that a person who is not the owner of the property cannot sell the property and that such a sale is not enforceable in law.
2. Gherulal Parakh v. Mahadeodas Maiya (1959): This case dealt with the issue of specific performance of a contract for the sale of immovable property. The Supreme Court held that if the buyer is willing to perform his part of the contract and the seller is unwilling to do so, then the buyer is entitled to specific performance of the contract.
3. Motilal Padampat Sugar Mills v. State of Uttar Pradesh (1979): This case dealt with the question of whether a sale of immovable property is valid if it is not registered. The Supreme Court held that a sale of immovable property is not valid unless it is registered with the relevant authorities.
4. M/s. Jai Prakash Associates Ltd. v. Delhi Development Authority (2018): This case dealt with the issue of whether a contract for the sale of immovable property can be cancelled by the buyer due to a defect in title. The Supreme Court held that a contract for the sale of immovable property can be cancelled by the buyer if there is a defect in title, even if the buyer had knowledge of the defect.
5. Tata Cellular v. Union of India (1994): This case dealt with the question of whether a person can sell an immovable property without obtaining the necessary clearances and approvals from the relevant authorities. The Supreme Court held that a person cannot sell an immovable property without obtaining the necessary clearances and approvals from the relevant authorities, as this would be in violation of the law.

These judgements have helped to clarify the legal provisions regarding the sale of immovable property in India and have provided guidance to both buyers and sellers in the conduct of such transactions.

In conclusion, the sale of immovable property in India is regulated by the Indian Contract Act, 1872, and the Transfer of Property Act, 1882, which lays down the laws and regulations governing the transfer of ownership of real estate. The process of selling immovable property in India involves several steps, including determining the market value of the property, entering into a written agreement, paying stamp duty and registration fees, registering the agreement, making the payment, and transferring the original documents. It is important for both the buyer and the seller to comply with all the laws and regulations, including taxes and fees, to ensure that the sale is legal and valid. The sale of property is an important transaction and must be carried out with due diligence and caution to avoid any legal complications in the future.